Year | Value |
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2024 | USD 78.53 Billion |
2035 | USD 129.33 Billion |
CAGR (2025-2035) | 4.64 % |
Note – Market size depicts the revenue generated over the financial year
Polyurethanes, a new class of chemicals, are becoming more and more important in the world, and the demand for them is destined to grow at an accelerated rate. The world polyurethane market is expected to reach a size of $78.53 billion in 2024, and is forecast to reach $119.33 billion by 2035. The CAGR (compound annual growth rate) is 4.64% from 2025 to 2035, indicating a strong demand for polyurethanes in various industries. The main growth driver is the increasing use of polyurethanes in the fields of automobiles, construction and furniture. The materials that are durable, flexible and energy-saving are needed by manufacturers. The development of new technology, such as the development of bio-polyurethanes and the emergence of new manufacturing methods, will also drive the market. The major companies such as BASF, Covestro and Huntsman are at the forefront of innovation, and they are also making efforts to achieve sustainable development, forming strategic alliances, and enhancing their product offerings. It has been said that BASF has launched a new eco-friendly polyurethane solution, which is in line with the trend of consumers’ growing demand for sustainable materials. These trends and activities will play an important role in shaping the future of the polyurethane industry.
Regional Market Size
The polyurethane market is a dynamic market with high growth potential in various regions, driven by increasing demand in the construction, furniture and automobile industries. The North American market is characterized by a strong presence of the leading manufacturers and a strong focus on innovation, especially on sustainable polyurethane solutions. Europe is characterized by a shift towards sustainable materials, mainly driven by stricter legislation and the growing consumer interest in sustainable products. The Asia-Pacific region is growing rapidly due to industrialization and urbanization. The Middle East and Africa are experiencing growth mainly due to construction of new roads and other public works. Latin America, although smaller, is gradually adopting polyurethane in various applications, reflecting the growing awareness of its benefits.
“Polyurethane is one of the most versatile materials, used in everything from flexible foams in furniture to rigid foams in insulation, and even in coatings and adhesives.” — Polyurethane Manufacturers Association
Polyurethane is a product whose market is growing steadily, especially in the automobile and construction industries where its versatility and properties are highly appreciated. In the automobile industry, the need for light materials for a better fuel economy is a determining factor. The same holds for the construction industry where the need for energy-saving materials is also a major factor. In addition, the continuous improvement of polyurethane formulations with regard to performance and sustainability is causing the interest in this product to grow. Among the leading producers of polyurethanes, BASF and Dow are able to develop new products in response to new requirements. These products are used in a wide range of applications, e.g. in the construction industry for the manufacture of insulating panels, in the furniture industry for flexible foams, and in the automobile industry as coatings. The trend towards the use of sustainable materials and the government regulations aimed at energy conservation are stimulating the growth of this market. In addition, the development of bio-based polyurethanes and of a polyurethanes’ recycling technology are influencing the future of the market, and are in line with the global trends towards sustainable development and the consumers’ desire for green products.
Polyurethane market to grow significantly from 2024 to 2035. Its market value is expected to increase from 78,553 million to 129,331 million, with a compound annual growth rate (CAGR) of 4.36%. Polyurethanes are widely used in various industries, such as automobiles, construction, and furniture. In the future, as the emphasis on sustainable development increases, the demand for bio-based polyurethanes will increase, which will be driven by both consumers and regulations. In 2035, it is expected that bio-based polyurethanes will account for approximately 20% of the total market, which will be a trend towards the use of more environmentally friendly materials. In addition, the development of high-performance polyurethane formulations and new processing methods will also enhance market penetration. The polyurethane industry will continue to increase its share in the field of lightweight and energy-saving parts in the automobile industry. The construction industry will also increasingly adopt polyurethanes for sealing and sealing materials, mainly driven by the increasing energy-saving requirements and the emergence of green building certifications. The market for polyurethanes will continue to evolve and provide opportunities for industry players to take advantage of the development of new applications and the trend of sustainable development.
Covered Aspects:Report Attribute/Metric | Details |
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Growth Rate | Â Â 5.11% (2022-2030) |
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